Digital payments system in India is expected to grow to $500 billion ecosystem (approximately Rs 33.26 lakh crore) by 2020. About 15% of India's GDP will flow through digital payments, according to a Google BCG report.

The report further said that physical point-of-sale like kirana and unorganised retail will drive 60% of digital payments value. This is as 50% of person-to-merchant transactions will be for less than Rs 100.

The digital payments will see 50% of it being done through mobile phones. Apart from this, the top 100 million internet users will drive 70% of digital payments value.

The report also said that 81% digital payment users prefer it to other non-cash payment methods. Convenience ranks the top as 66% users are primarily said it was the reason, while 48% find offers the largest appeal for use. In terms of growth of business, 75% merchants believe that accepting digital payments will grow their business.